BDO bolsters Sydney team with addition of 13-strong DBW Group

01 September 2020 Consultancy.com.au

In its first domestic acquisition in over a year, BDO has acquired DBW Group, adding a 13-strong team to its operations in Sydney. 

“This is a very exciting development for BDO Australia which is perfectly aligned with our strategic direction,” said Grant Saxon, Managing Partner of BDO’s office in Sydney.

BDO’s strategy has long been focused on growth, and in recent years the accounting and consulting firm has grown its domestic footprint to over 200 partners and 1,500 staff, cementing its position as Australia’s sixth largest accounting-origin professional services firm.

The Covid-19-induced downturn has understandably shifted the focus of the firm’s strategy towards adapting to the new environment and stabilising operations, while helping clients navigate the unprecedented challenges they are facing. The addition of DBW Group aligns with the latter pillar, and will help the firm meet growing demands from mid-market clients in the area of financial planning and financial advisory, confirmed Andres Reith.Matthew Duggan, Andres Reith, Grant Saxon and Elina McKerrell“The disruption to the economy we’re seeing as a result of the Covid-19 pandemic has seen increased demand from family businesses, corporate and private wealth and high-net-worth clients,” said Reith, who is in charge of BDO’s Business Services for the Sydney region.

Saxon added: “We are proud to be maintaining our reputation as a responsive firm that reacts swiftly to the needs of our clients in an ever-evolving economic landscape.” 

The bolt-on comes shortly after BDO formally integrated its Sydney, Melbourne and Brisbane practices, a move aimed at creating a more integrated and agile business nationally. Behind the scenes, BDO is working on a nationwide integration, which would see all of its nine offices come together under one governing entity. 

Last year, BDO acquired Consolid8, a cloud accounting and business advisory firm based in Brisbane. Earlier in its 45-year history in Australia, BDO closed deals with among others Horwath and PKF to accelerate its growth in the country.

For DBW Group, the integration into the globe’s fifth largest accounting-origin group opens up a box of opportunities, including capabilities in audit, tax and advisory, a nationwide client network and a technology backbone at a time when digitisation is more important than ever.

Matthew Duggan, a Director at DBW Group, explained: “Joining a larger firm that encompasses a wider range of professional services, we will be in a much stronger position to find new growth opportunities for our existing clients.” He added, “BDO has the right cultural fit for our team.” 

As part of the integration, Matthew Duggan and fellow DBW Group Director Elina McKerrell will join BDO as Partners.


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